Boston, MA 09/03/2014 (wallstreetpr) – Harold M. Stratton II, Director of Strattec Security Corp. (NASDAQ:STRT), unloaded 5000 shares of Strattec’s stock on August 29, 2014. Strattec shares were sold at an average price of $78.49 amounting to $392,450.00. After the last transaction, Stratton owns 44,964 shares in Strattec.
Ratings upgrade
A number of research firms reviewed Strattec Security stock ratings in last one month. Analysts at Zacks now have an “outperform” rating with a target price of $79.80 on Strattec stocks. The other research firm that is positive on Strattec Security Corp. (NASDAQ:STRT) is Robert W. Baird. It raised the target price of Strattec stocks from $68.00 to $72.00 last month. Strattec stocks are trading with positive momentum after the recent rating upgrades.
The financial performance
Strattec Security Corp. (NASDAQ:STRT) posted its fourth quarter earnings last month. It posted the earnings of $1.58 per share exceeding the market expectations of $1.17 per share. The net sales came higher at $102.1 million comparable to net sales of $80.5 million in 4Q2013. Net income came at$5.7 million comparable to $3.2 million a year earlier. The diluted earnings came at $1.58 per share comparable to $0.92 in 4Q2013. The gross margins came higher at 20.0% comparable to 18.2% in 4Q2013. The higher production volumes and the higher number of content on models resulted in higher sales. Overall, the higher demand of vehicles is helping Strattec to improve its performance.
The increase in dividend
Shareholders of Strattec will be more than happy in this quarter as Strattec Security Corp. (NASDAQ:STRT) announced a quarterly dividend which is 9% higher than the previous regular dividend payout of $0.11 per common share. Strattec announced a quarterly dividend of $0.12 per share which is scheduled for September 26, 2014. All the shareholders with record date of September 12 will receive a quarterly dividend. It reflects a $0.48 annualized dividend with a yield of 0.57%. The ex-dividend date is September 10, 2014.
